(a) At the first meeting of the joint water district board following January 1, 1985, and annually thereafter, the board shall elect a chairperson, vice-chairperson and secretary-treasurer for a term of one year, or until a successor is elected and has been qualified. The chairperson and all persons employed by the board shall be paid just and reasonable compensation as determined by the board. The board shall prepare annually a budget for the coming year, adjust water rates, if necessary to produce sufficient revenue required by such budget, and shall cause an annual audit of the district’s records and accounts to be made.

(b) The water district board may select and appoint a general manager who shall hold office at the pleasure of the board. The general manager shall have such duties and responsibilities as shall be assigned by the board in the management of the water supply and distribution system. The board shall obtain for the general manager a surety bond conditioned upon the faithful performance of the manager’s duties. The board may authorize the payment of costs of group hospitalization, medical and surgical insurance benefits for its employees and may adopt a retirement plan for all of its officers, employees and agents. The board may obtain liability insurance covering the operations of the water district and the actions of the board. The board may obtain corporate surety bonds to the state of Kansas in an amount to be determined by the board, conditioned upon the faithful performance of the board members’ duties and for the true and faithful accounting of all money that may come into the members’ hands by virtue of the office. Such bonds shall be filed in the office of the county clerk for the county in which the district is located after approval by the board of county commissioners of such county.

(c) The joint water district board shall meet in regular session at a place to be designated by the board on the same day each month during the year as determined by the water district board for the transaction of any business as often as the interest or business of the water district may demand. The board shall meet in special session on the call of the chairperson or at the request of any two members of the board. The board shall adopt any rules and regulations and district bylaws deemed necessary for the conduct of the business of the district. It shall be the duty of the secretary to keep records showing all minutes, decisions and orders made by the board. Except as provided by the open records act, the records and accounts of the board shall be public. Except as provided by Kan. Stat. Ann. § 75-4317 et seq., and amendments thereto, meetings shall be open to the public. Three members shall constitute a quorum for the transaction of business.

(d) The joint water district treasurer shall keep a true account of all moneys received thereby and the manner in which the same have been disbursed, keeping a separate account with each fund. The treasurer shall deposit or cause to be deposited all public moneys received thereby in an official capacity in a bank which is a member of the federal deposit insurance corporation or a savings and loan association which is a member of the federal savings and loan insurance corporation within the county in which the joint water district is located, the same to be designated by the joint water district board. Such deposits shall be made in the name of the joint water district. Joint water district moneys not immediately required for the purpose for which such moneys were collected or received may be invested in the manner provided by Kan. Stat. Ann. § 12-1675, and amendments thereto.

It shall be the duty of the treasurer to present to the board within 60 days from the end of the preceding quarter a quarterly financial report on the operations of the joint water district. Within 90 days after the end of each calendar year, the treasurer shall publish or cause to be published in a newspaper of general circulation within the county in which the joint water district is located a summary which shows totals for the categories of the receipts, expenditures, liabilities, assets and bonded indebtedness of such water district as of the end of such calendar year. Such publication shall include a notice that a detailed statement of such receipts, expenditures and liabilities is available for public inspection at the county clerk’s office. Copies of the report shall be made available upon request. Such statement shall be duly verified and, after appropriate audit, shall be certified by a licensed municipal public accountant or by a certified public accountant.

The joint water district board shall obtain for the treasurer of the joint water district a corporate surety bond to the state of Kansas conditioned upon the faithful performance of the treasurer’s duties and for the true and faithful accounting of all money that may come into the treasurer’s hands. The amount of such bond shall be determined by the board. Such bond shall be filed in the office of the county clerk in the county in which the joint water district is located after approval by the board of county commissioners of such county.